Reps Committee starts enumeration, valuation of public assets

In order to guarantee that public assets are valued and enumerated in accordance with the House decision, the Committee on Public Assets of the House of Representatives has started working on the project.

In an interview with reporters in Abuja on Thursday, Rep. Ademorin Kuye, the chairman of the House Committee on Public Assets, disclosed this information.

According to Kuye, the committee made the decision to move quickly in order to retrieve trillions of naira worth of assets from embezzled and abandoned public properties both inside and outside of Nigeria. The committee also stated that this action will assist the Federal Government in executing the 2024 Budget in its entirety.

A resolution was previously passed by the National Assembly’s Green Chamber, which called on the Ministry of Finance Incorporated (MOFI) to begin a thorough inventory and appraisal of all public assets.

The House also assigned the Nigerian Institute of Estate Surveyors and Valuers, or NIESV, the same duty of releasing an extensive asset register that would be accessible to the general public.

The chairman emphasised that the Committee on Public Assets is built upon three pillars that define its purpose and stated that the Committee will also assess indiscriminate sales and misappropriation of government assets.

He lists “strong oversight of public asset management and disposal in all the MDAs, guardianship of national assets, and governance of forfeited assets” as some of these.